In 2021, the value of the prop tech market was estimated to be $25.1. billion. However, it is supposed to grow at a CAGR of 15.8% between now and 2030, which indicates real estate investors' growing interest in technological advancements that can improve their properties.
One of the most important fields of prop-tech is security technology, that is, solutions and devices aimed at increasing the safety of real estate properties and their occupants. Let's have a look at some of the most popular ones.
Thanks to advancements in technology, real estate investors can now choose from a wide range of options when it comes to shaping the most effective video security system for their properties.
First, you should decide the type of cameras you need to install. The best approach is usually a mix of different cameras. For example, you can use a combination of dome and bullet cameras in order to cover different parts of your property. More advanced types include explosion-proof IP cameras and thermal cameras, which can be useful in particular scenarios.
Modern video security systems also offer numerous additional features for extra security. These include motion detection sensors and night vision capabilities. Motion detection sensors allow the system to detect any movement within its field of view and trigger alerts or notifications to security staff. Night vision allows cameras to capture very clear footage even in conditions of low light, which can be extremely helpful in recording intruders at night.
Another increasingly popular trend in prop-tech is the use of video analytics software to boost the level of security of real estate assets. Video analytics software leverages advanced algorithms with the goal of detecting irregular patterns in collected video footage. These patterns may be an indicator of potential threats and suspicious activity.
Video analytics software is capable of detecting movement, recognizing faces, and identifying objects, and it can also be programmed to alert security personnel when certain criteria are met. For example, it can recognize an unauthorized person loitering in a particular property area and notify security staff of the danger.
Moreover, this type of software can offer valuable insights into occupancy levels and allow managers to better understand how people use the space.
Thanks to video analytics, damages to people and assets, as well as other undesirable events, can be prevented more effectively.
Traditionally, access control solutions for real estate properties have included standard locks, card or fob readers, and keypads.
However, technological advancements have increased the number of access control options available to real estate investors who want to ensure only residents and authorized workers can access the premises.
Facial recognition devices are among the most popular biometric access control solutions. They work by identifying a person's face and matching it to an internal database of authorized users.
This type of access control solution offers a much higher degree of security than traditional methods.
Two alternatives to facial recognition devices are fingerprint and retina scanners, which work by matching the stored biometric data of an individual to that presented by the scanner.
These access control solutions can also be combined with traditional ones in a multi-factor authentication (MFA) procedure. In this scenario, users must pass two or more authentication steps to gain access. For example, someone trying to access the building may first have to enter a PIN on a keypad and then pass a facial recognition scan. This makes it virtually impossible for unauthorized individuals to access the premises.
Thanks to technological advancements, it's increasingly possible for property owners and managers to monitor real estate assets from afar.
For example, cloud-based video security systems allow users to access live and recorded video streams remotely. This is particularly helpful for those who own different properties that are located quite far from each other.
Remote management capabilities also apply to access control systems. It's now possible for property owners or tenants to lock and unlock doors from their smartphones without the need to be physically present. This allows users to grant access to visitors or receive deliveries when they are not at home while also being notified if unauthorized individuals are trying to access the property.
As technology becomes an increasingly prevalent component of real estate asset management,
properties are also more exposed to threats from cybercriminals.
Advanced cybersecurity solutions can help owners and managers protect real estate assets by safeguarding access control systems, video security footage, and Wi-Fi networks.
Examples of cybersecurity measures that can help owners and managers defend their properties include two-factor authentication systems, encryption technologies, and threat assessment platforms that can detect and analyze intrusions.
Owners and managers of real estate assets can benefit from an increasing range of innovative technologies to boost security. These include modern video cameras, video analytics software, advanced access control solutions, remote security management systems, and the latest cybersecurity solutions.
By investing in these measures, real estate investors can ensure that their assets enjoy the maximum level of protection possible.
Advancements in security technology are giving property owners and managers an increasingly wide range of tools and solutions to protect their assets.